Ant Financial Raises $14 Billion in Series C Funding to Develop New Technologies

Ant Financial, the owner of Alipay – the largest online payments network in China, and affiliate of Alibaba – has announced an enormous total of $14 billion has been raised in series C funding. The amount, which is one of the largest capital raises in history, puts the company at a massive valuation of $150 billion, serving a customer base of an estimated 870 million users in China.

Not the First Toe in the Water

This isn’t the first time that Ant Financial have decided to get involved in blockchain. Ant Love, the firm’s charity, have been a blockchain service for two years, and Alibaba itself is already using blockchain to track shipments, with blockchain already proving extremely effective at supply chain management and effective, ethical tracking.